The Edition


Maldives launches book, website on state budget

Fathmath Shaahunaz
13 November 2016, MVT 16:17
Finance minister Ahmed Munawar proposes the State Budget 2017 to the parliament last Monday. PHOTO/MAJLIS
Fathmath Shaahunaz
13 November 2016, MVT 16:17

The Maldives government inaugurated Sunday a book and website regarding the projected State Budget 2017.

The book and website on the state budget was inaugurated by finance minister Ahmed Munawar during a ceremony held at the ministry. The book “Budget Mala” and website impart information on the estimated government revenue, expenditure and sectors for expenditure compiled in the state budget which has been proposed to the parliament for review.

Minister Munawar stated that the lack of a source of information on the state budget from the finance ministry, while other institutions impart information, has been a cause for great concern for the ministry.

Hence, the new website will be updated regularly beginning next year, bringing the latest information on government revenue and expenditures to the public, assured the minister. He added that the ministry will also launch a mobile application on the state budget, and will work jointly with Maldives Monetary Authority (MMA) and other authorities to hold information forums with the media.

“This is a beginning. God Willing, I believe it will keep moving forward.”

The 2017 State Budget of MVR 26.8 million proposed to the parliament on Tuesday projects a revenue of MVR 21.9 billion, with MVR 14.1 billion from taxes, MVR 4.8 billion from other income, MVR 878 million from free financial aid and MVR 2 billion from proposed revenue generating projects. Meanwhile, next year’s deficit is estimated to be MVR 303.7 million, which is five percent of the Gross Domestic Product (GDP).

Meanwhile, the parliamentary budget review committee is currently evaluating the proposed state budget, which will be submitted to the parliament floor on Monday for debate.